Regions Financial Corporation $RF Shares Bought by Strs Ohio

Key Points

• Strs Ohio boosted its stake in Regions Financial by 149.2% in Q4, adding 369,203 shares to hold 616,685 shares worth about $16.7 million (roughly 0.07% ownership).
• Regions declared a quarterly dividend of $0.265 per share (annualized $1.06), yielding about 3.8%, with record date June 1 and payment on July 1.
• The bank reported EPS of $0.62 (beating estimates by $0.01) and 5% revenue growth y/y, while analysts’ consensus rating is Hold with an average target of $30.12.

Strs Ohio boosted its holdings in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 149.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 616,685 shares of the bank's stock after purchasing an additional 369,203 shares during the period. Strs Ohio owned about 0.07% of Regions Financial worth $16,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RF. GAM Holding AG purchased a new position in Regions Financial in the third quarter valued at $1,760,000. First Citizens Bank & Trust Co. grew its position in shares of Regions Financial by 6.8% in the third quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank's stock valued at $18,204,000 after purchasing an additional 44,252 shares during the period. iA Global Asset Management Inc. acquired a new stake in shares of Regions Financial in the third quarter valued at about $1,378,000. Teacher Retirement System of Texas grew its position in shares of Regions Financial by 111.2% in the third quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank's stock valued at $7,662,000 after purchasing an additional 152,987 shares during the period. Finally, AGF Management Ltd. acquired a new stake in shares of Regions Financial in the third quarter valued at about $1,669,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Trading Up 0.1%

NYSE RF opened at $28.21 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The firm's fifty day moving average price is $27.13 and its 200 day moving average price is $26.97. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.10 and a beta of 1.02. Regions Financial Corporation has a 12 month low of $20.55 and a 12 month high of $31.53.

Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company's revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. On average, sell-side analysts expect that Regions Financial Corporation will post 2.61 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.8%. Regions Financial's dividend payout ratio (DPR) is currently 44.17%.

Analysts Set New Price Targets

Several analysts recently issued reports on RF shares. UBS Group reaffirmed a "neutral" rating and set a $30.00 price objective on shares of Regions Financial in a research note on Wednesday, February 4th. Morgan Stanley decreased their price objective on shares of Regions Financial from $37.00 to $34.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 31st. Wells Fargo & Company lowered shares of Regions Financial from an "equal weight" rating to an "underweight" rating and set a $30.00 price objective on the stock. in a report on Friday, January 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $32.00 target price on shares of Regions Financial in a research note on Tuesday, March 3rd. Finally, Brean Capital assumed coverage on shares of Regions Financial in a research report on Thursday, March 12th. They issued a "neutral" rating on the stock. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $30.12.

About Regions Financial

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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